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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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Im filing for Chapter 13 bankruptcy and I have 106,712.27

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I'm filing for Chapter 13 bankruptcy and I have 106,712.27 in "unsecured debt." What's the smallest percentage I can get away with for payment to unsecured creditors?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

How much is you yearly salary?

WALLSTREETESQ :

What is you monthly expenses and expenses?

Customer:

Thank you. I make about 56,000.00 a year. My monthly expenses are about 3,273.00

WALLSTREETESQ :

How much do you have left over every month?

Customer:

About 440.00

WALLSTREETESQ :

How many people live in your home?

Customer:

Last year I actually made more with commissions- my current monthly salary is about 4,236.00

Customer:

three people- my two children and me

WALLSTREETESQ :

Why don't you file a chapter 7,

Customer:

I'd like to keep my home

Customer:

I owe more than it's worth though

WALLSTREETESQ :

You can keep your home in a chapter 7 if you reaffirm the mortgage.

Customer:

Okay. I filed my chapter 13 already. I just didn't know enough to estimate a payment

WALLSTREETESQ :

Meaning you agree to pay the mortgage outside bankruptcy.

Customer:

Okay. Thank you that really helps.

WALLSTREETESQ :

If you filed a chapter 13, the $440 would have to be paid for 5 years, and that would be your payment plan.

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